Deciding Whether a California Prenuptial Agreement Is Right for You
This is the first post in my new series Deciding Whether a California Prenuptial Agreement is Right for You. While entering into some form of a prenuptial agreement is becoming increasingly common (10% of all married couples have a legal agreement) many couples are unsure if a pre-marriage contract is right for them. Many couples worry that their partner will see a prenuptial agreement as a form of doubt in the relationship. Other couples think that because they do not have expensive assets then they do not need to worry about their financial future. But what many couples do not realize is that having a prenuptial agreement can not only protect one partner, but the couple’s finances, in certain situations.
In my next several posts I will be discussing specific situations in which a prenuptial agreement may be an appropriate option to consider. Topics I will be covering include:
- Why a prenuptial agreement can protect a couple if one member of a partnership has tax issues
- How a prenuptial agreement can protect a couple’s financial future if one partner has significant debts
- What a person with assets, property, or a business should know about mingling property prior to marriage
- How to bring up the topic of a prenuptial agreement with your partner
- What to do if your partner asks you for a prenuptial agreement
Before drafting a prenuptial agreement, it is important to 1) ensure that the issues in question can be covered by a prenuptial agreement and 2) that the agreement will be held up in a court of law later down the road. Hiring an experienced prenuptial agreement attorney will ensure that both members of the relationship are treated fairly and that the document will be legal. Issues such as child custody and child support cannot be agreed upon prior to marriage, as the California Court system reserves the right to decide on these issues based on the child’s best interests. As a no-fault divorce state it is also important to know that California does not honor “cheating clauses” or any other clause that punishes a spouse for certain behavior during the marriage.
Throughout this series I will be addressing specific situations in more detail. These will include how a prenuptial agreement can provide protection and when it is no longer enforceable. If you are engaged to be married and wish to learn more regarding how to protect your future finances, contact our San Diego, California office today.